Credit: Nigel Howarth/Aviation WeekIcelandair Group is still locked in financial restructuring talks with lessors, a credit card acquirer and Boeing, further-delaying its time line toward a share offering and government-backed loan.
Credit: Nigel Howarth / Aviation WeekUK-based Virgin Atlantic said July 1 that it was continuing to work on “a comprehensive, solvent recapitalization of the airline” to ensure it could continue to provide “essential connectivity and competition” for consumers and businesses.
Credit: Hong Kong International AirportFollowing cases of transit passengers being stranded at Hong Kong International Airport (HKG) as a result of mishandling by airlines, Airport Authority Hong Kong (AA) has introduced a series of penalties imposed on airlines should such cases occur again.
Credit: Nigel Howarth / Aviation WeekScandinavian Airlines (SAS) has secured a SEK14.25 billion ($1.5 billion) recapitalization, led by the Danish and Swedish governments along with third-largest shareholder the Knut and Alice Wallenberg Foundation.
Credit: Dubai Aerospace EnterpriseDubai Aerospace Enterprise has granted lease-payment deferrals to a further four customers and is evaluating another 28 requests, taking the total number of approaches to at least 58.
Credit: Nigel Howarth / Aviation WeekAeromexico became the latest Latin American airline to seek Chapter 11 bankruptcy protection in the U.S., as the region’s carriers struggle to remain solvent in the absence of federal government support.
Credit: AirbusAirbus’ announcement June 30 that it would cut 15,000 positions in response to the current crisis has caused an uproar in France, where 5,000 cuts are planned.
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